Personal Savings Account
Save simpler with competitive interest rates and no monthly maintenance fees or minimum balance.
Earn and save more with & APY1
Earn &x the national average.2
We’re proud to offer a competitive interest rate so you can build your savings faster.
Features and Benefits
No Monthly Maintenance Fees
We don’t charge you to keep your money growing strong.
FDIC Insured3
Funds are insured up to the maximum allowed by law.
Online Account Opening and Management
We make the process easy and efficient.
No Minimum Balance Requirements
Your money grows with us, no matter how much you have.
Manage Beneficiaries Online
Easily add or update through online banking.
Personal Savings Account FAQ
To ensure your account is closed properly please contact a Customer Success Manager at 866.518.0286 (Monday through Friday 8:00 a.m. – 8:00 p.m. ET).
There is no longer a limit to the number of transfers you can make from your Live Oak Bank savings account. You can move up to $250,000 per transfer day.
You can transfer funds electronically through an ACH transaction. To do this, log on to the Live Oak Portal, select Transfer Funds, then select the ‘from’ account, ‘to’ account and amount of the transfer. Your ACH should post to your external account within 1-2 business days. The ACH cutoff time is 5:00 p.m. ET.
The Live Oak Savings account does not include checks or a debit card.
Deposits begin earning interest on the day the deposit is posted to your account. Please allow 1-2 business days for an incoming ACH transfer initiated through the Live Oak Bank Portal to post to your account. Check deposits are posted to the account on the day we receive them. Interest is compounded daily and posted to your account on the last business day of the month. You must have a balance of $.01 to earn interest.
You may initiate an ACH transfer from your external bank account through the Live Oak Bank Portal. The cutoff time for incoming and outgoing ACH transfers is 5:00 p.m. ET. Please allow 1-2 business days for the funds transfer to process. For security and verification purposes, incoming transfers initiated through the Live Oak Bank Portal are held for five business days once posted to your Live Oak account.
ACH transfers initiated from an external account and sent to your Live Oak account are available immediately upon receipt.
Deposits made by check or mobile deposit will be held for up to five business days once posted to your account.
Funds sent to an external account are available at that bank within 1-2 business days. The transfer must be initiated before 5:00 p.m. ET.
